New Delhi, Aug 16 : With the help of smart speakers, the number of devices installed of smart home gadgets is expected to surpass 2 billion devices in the next year, a new study has revealed. Smart speakers were the most popular worldwide sales in 2021 with around 195 million sold, then plugs/switches, lighting and connected health devices according to Omdia, a global research company.Omdia.
The devices expected to expand most rapidly during the next five years are shutoff valves and water leak sensors and connected appliances for homes such as plugs/switches and air quality monitors, and smart door locks.
These are projected to have an annual compound rate of growth (CAGR) more than 30 percent from 2021 until 2026.
“It is a thrilling moment for the smart home market as companies are constantly innovating and develop devices that incorporate advanced features like video analytics and facial recognition with door locks, as well as the addition of radar technology in smart thermostats and smart speakers,” said Blake Kozak the senior principal analyst at Omdia.
Omdia estimated that 55 percent of broadband homes in the US had smart home devices that were installed last year.
In the Europe, Middle East, and Africa region, around 21 percent of broadband users had an electronic home appliance in 2021.
Comparatively to the Americas region had an average rate of penetration of 44 percent, and Asia as well as Oceania experienced a rate of approximately 14 percent in 2021.
As a matter of market share of unit sales, Xiaomi was estimated to be the market leader in 2021 and then being followed by Alibaba, Amazon, Google and Baidu.
The coming years will be difficult for many brands, as costs continue to increase.
However, the strong growth of smart home gadgets, which is on the same level with pre-pandemic levels are expected to continue in the beginning in 2023 driven by the growing demand in energy management solutions as well as the imminent launch of the Matter open-source reliable IoT industry standard for compatibility across the globe in the report.
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